For the first time ever I sold all my stocks

[pb4uski]

Stock up on tin foil while you're at it.

 

[Major Tom]

I just remembered that the first time I ever saw this thread, I thought the title was,

"For The First Time Ever I Sold All My Socks"

No disrespect to the OP but, IMHO, the above would be a truly inspiring title for a retirement thread

 

[VanWinkle]

((((((Looking at the widespread corruption in government and now extending to the stock market))))), I am thinking of converting to some gold coins, but then you have to worry about where to safely keep it? I know, a safe at home, but still it would be a lot of coin.

This has happened hundreds of times over my lifetime, cash and Gold is not the answer.

VW

 

[harllee]

I just remembered that the first time I ever saw this thread, I thought the title was,

"For The First Time Ever I Sold All My Socks"

No disrespect to the OP but, IMHO, the above would be a truly inspiring title for a retirement thread

I am the OP and this is very funny to me. I have never sold my socks, I wear them until there is more hole than sock and then I use them as dust rags.

 

[GravitySucks]

Stock up on tin foil while you're at it.

LOL

 

[Exchme]

I've backed down from 85% equities to 80%, but that's mostly due to impending retirement. Making big moves is market timing and rarely works well. Best of luck to the OP, you may be right or very wrong. How will you know when to get back in? I talked to a guy a couple years ago that was telling me he got out before the drop. When queried, it turned out he meant 1999! While he had missed a big roller coaster ride, he had also left a lot of money on the table by never getting back in.

 

[gayl]

I locked in a 6-7% loss last March. And I didn't touch the brokerage account, just the IRA.

 

[harllee]

I've backed down from 85% equities to 80%, but that's mostly due to impending retirement. Making big moves is market timing and rarely works well. Best of luck to the OP, you may be right or very wrong. How will you know when to get back in? I talked to a guy a couple years ago that was telling me he got out before the drop. When queried, it turned out he meant 1999! While he had missed a big roller coaster ride, he had also left a lot of money on the table by never getting back in.

OP here-- I reported earlier in the thread that I got back in on November 4 with a conservative stock allocation since I am age 70 and don't need to take too much risk.

But I wish someone would explain to me what is going on with GameStop or whatever it is called? I thought that company was almost bankrupt. Who goes into a store anymore to buy games?

 

[Aerides]

But I wish someone would explain to me what is going on with GameStop or whatever it is called? I thought that company was almost bankrupt. Who goes into a store anymore to buy games?

It's not really about Gamestop at all, here's a whole thread (though I can't promise you'll really understand any better if you read it all):

https://www.early-retirement.org/forums/f44/gamestop-96026-20.html#post2553348

 

[gayl]

OP here-- .... what is going on with GameStop or whatever it is called? I thought that company was almost bankrupt. ....

stock manipulation to take down hedge funds shorting it. Read those playing Gamestop and AMC might be going after Bitcoin next.

 

[OldShooter]

Stock up on tin foil while you're at it.

Really ?!!? Tin foil instead of toilet paper? Ack!

 

[audreyh1]

But I wish someone would explain to me what is going on with GameStop or whatever it is called? I thought that company was almost bankrupt. Who goes into a store anymore to buy games?

It doesn’t matter to long term investors, and has probably already blown over.

 

[Aerides]

Please direct any further GME/WSB/Gamestop comments to the separate thread. Further comments will be moved by the Mod team as they do not related to this topic.

https://www.early-retirement.org/for...ml#post2553348

 

[ExFlyBoy5]

OP here-- I reported earlier in the thread that I got back in on November 4 with a conservative stock allocation since I am age 70 and don't need to take too much risk.

But I wish someone would explain to me what is going on with GameStop or whatever it is called? I thought that company was almost bankrupt. Who goes into a store anymore to buy games?

I know this source is questionable to many, but it's a good summary of the Gamestop story: https://www.vice.com/en/article/qjp...op-stock-skyrocket-and-made-short-sellers-cry